Hwashin Tech Co., Ltd. (KOSDAQ:A086250) announced a private placement of 217,580 common shares at a price of KRW 4,596 per share for gross proceeds of KRW 999,997,680 on January 4, 2019. The transaction will include participation from individual investors, Lee, Kigeun and Choi, Miran for 108,790 shares each. The face value of shares is KRW 500 per share and will be issued at a 10% discount. Post the closing of the transaction, the total number of issued common shares of the company will increase from 9,700,000 to 9,917,580 shares. The securities being issued are subject to a lock in period of one year. The shares will be issued through a third-party allotment. The transaction is expected to close on January 16, 2019 and scheduled delivery date of new share certificates is January 25, 2019. The transaction has been approved by board of directors of the company.